What basic information will the auction representative require when I call to obtain fair market value information?
Year, Make, Model, Trim level, options and options packages (if known), current odometer reading, condition of vehicle (excellent, good, average, below average), accident history.
Example: 2001 Audi A4 1.8T Quattro, Premium Package, Winter Package, Celebration Package, Blue exterior, tan leatherette interior, 180,000KM, average condition for year and mileage.
Will the auction need any additional declarations or information to be able to sell my vehicle?
We will need current confirmation that there are no outstanding liens against your vehicle. We also need you to complete a vehicle consignment agreement. In the consignment agreement, you will be asked to supply detailed information about your vehicle’s history and condition.
What does fair market value mean?
Fair Market Value is the current average selling price for similar vehicles in Wholesale and Public Auctions. There are seldom two used vehicles that are exactly the same, so we will do our best to provide a range that you could reasonably expect your vehicle to sell for at our auction. This range is NOT a guarantee. You will need to provide a minimum selling price (called a Reserve) that you agree to sell the vehicle at once bidding reaches or surpasses that amount.
When should I bring my vehicle to the auction, once I decide to consign it for sale?
We recommend that you bring the vehicle as soon as possible. It is in your best interest to bring the vehicle in as early in the week as possible prior to the auction sale. This will allow us to perform a visual inspection of the vehicle and feature your vehicle information and pictures online. The more time you give to prospective buyers to preview and consider your vehicle, the greater the chances of selling it.
You should bring in your registration, all of your vehicle keys, remote fobs, and service records and manuals (if available) with your vehicle. Keys will be safely accounted for and secured during the drop-off process. All pertinent papers and information will also be secured safely in our office.
What happens if my vehicle sells for more than the Reserve (Minimum Selling Price)?
Congratulations and enjoy the success Regina Auto Auction has provided you! The Auction will only charge the seller fees agreed upon in the consignment agreement.
Can I attend the auction, to see bidding activity on my vehicle?
Yes, you must attend the auction sale(s) that your vehicle is consigned to. If you do not attend your car will automatically sell unreserved to the highest bidder.
Should I have the vehicle professionally cleaned before bringing it to the auction?
Presenting your vehicle in the best possible light is highly recommended in order to achieve the maximum possible selling price. The vehicle should be clean (at a minimumALL of your personal belongings must be removed, vehicle should be de-trashed, vacuumed, washed and wiped). If you are comfortable with doing a little extra cleaning yourself, you should.
Should I fill up the gas tank before dropping off the vehicle at auction?
No, this is not necessary. You should however, ensure there is at least a quarter tank of gas in your tank. Your vehicle will need to be moved around on our property and through our auction lanes. Should the vehicle run out of gas while it is in our possession, we will charge a service fee to ensure it has enough fuel to make it through the auction lane.
What happens if the minimum selling price is not achieved, and I want to remove my vehicle from the property?
No problem. You will need to inform auction employees that you would like to do this after the event. You will be responsible for paying any fees agreed to during the consignment process at the auction.
I sold my vehicle – now what?
The auction handles everything from this point forward on your behalf. Buyers have until noon the following Tuesday to finalize their purchase. The auction will process all paperwork the week following the auction and your cheque will be ready for pickup by noon on the Wednesday following the auction.